JEM (NSW Schools II) Pty Ltd is a financing vehicle established by the Axiom Education (Axiom NSW) consortium which was contracted to finance, design, construct, maintain and manage 11 schools located in NSW.

The Axiom consortium was contracted by the NSW Government under a private public partnership (PPP). Construction, undertaken by St Hilliers Pty Ltd and Hansen Yuncken Pty Limited, was completed in 2010. Spotless Group Ltd is undertaking the provision of services for the length of the concession. Axiom is owned by funds managed by AMP Capital and International Public Partnerships Ltd.

Axiom NSW commenced providing facilities management services on the completion of each school. These services are to be provided over the project term, which expires in December 2035. Axiom NSW has subcontracted the bulk of these service obligations to Spotless P&F Pty Ltd (Spotless), an experienced provider of facilities management services part of the Downer group.

Axiom NSW receives service payments from the State of NSW based on the availability of completed buildings and for the provision of services, which is sufficient to cover operating expenses, service debt and equity returns. The payments are linked to CPI and are dependent upon Axiom NSW achieving performance targets which are related to the upkeep and management of the schools’ facilities..

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